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    How To Write A Great Business Plan
    How To Write A Great Business Plan
    How To Write A Great Business Plan
    Ebook154 pages1 hour

    How To Write A Great Business Plan

    By David G Komatz

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    About this ebook

    How to Write a Great Business Plan by David G. Komatz will provide techniques for creating a great business plan. Most new businesses fail within five years due to lack of financial advice and a lack of a proper business plan. A well prepared business plan can significantly increase your chances for success.

    Anyone who plans to start a new business needs a powerful business plan. Even existing businesses need to update their plan or if they don’t have a plan need to create one immediately. A business plan is a roadmap to how you want to run your business, how you plan to make it happen and what is needed in the realm of funding to make your plan work. Many businesses don’t take the time to update their plans which is a huge mistake. All businesses need to have a team of advisors including an attorney, accountant, banker and friends and families who can act as a board of directors.

    David is an accountant with over 43 years experience in all levels of accounting, taxation, business consulting, business plan writing and has earned a BS in accounting from Capella University and a MBA in forensic accounting from Southern New Hampshire University. He is currently enrolled in a doctoral program in management at North Central University. He has spent many years working with small businesses and understand how they operate. He has worked for businesses of varying sizes from several million to several billion dollars in revenue.

    LanguageEnglish
    PublisherDavid G Komatz
    Release dateNov 3, 2015
    ISBN9781310739446
    How To Write A Great Business Plan
    Author

    David G Komatz

    David has been a practicing accountant with extensive experience and is knowledgeable in all areas of accounting and taxation. David graduated with a BS in Accounting from Capella University, an MBA in forensic accounting from Southern New Hampshire University and Master’s Certificate in Criminal Justice from Capella University. He has completed his second full Masters Degree in Organizational Leadership and a second Masters Certificate in HR Management. David is now studying for his Doctoral degree in Global Business and Leadership.In addition to his extensive education and experience, he is also an accomplished writer. He has published over 30 articles on Ezine.com and has completed several consulting manuals. He is also working on completing numerous eBooks which will be published on Smashwords.His online articles can be accessed at this site:http://EzineArticles.com/expert/David_G_Komatz/1543625Please read and review the articles. Let David know if there are other articles you would like for him to write.You can reach David at:845-701-9816accurateacctg@yahoo,com

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      Book preview

      How To Write A Great Business Plan - David G Komatz

      How to Write A Great Business Plan

      Copyright

      This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the Publisher is not engaged in rendering legal, accounting or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.

      © 2018 by Crossroads Business Publishers.

      All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the publisher, except in the case of brief quotations embodied in critical reviews and certain other noncommercial uses permitted by copyright law. For permission requests, write to the publisher, addressed Attention: Permissions Coordinator, at the email address below.

      Crossroads Accounting & Business Services, Inc.

      2 Garden Dr.

      Monticello, NY 12701

      845-796-7676

      Crossroads_acctg@yahoo.com

      www.dgkfreelance.webs.com

      Author: David G. Komatz

      Published by Crossroads Business Publishers

      Table of Contents

      Chapter 1 What is a Business Plan

      Chapter 2 Common Business Plan Errors

      Chapter 3 Choose Your Business Structure

      Chapter 4 Elements of a Business Plan

      Chapter 5 Financial Statements

      Chapter 6 Goals and Objectives

      Chapter 7 Write the Management Team Section

      Chapter 8 Strategic Analysis

      Chapter 9 Mission Statement

      Chapter 10 Write a Good Vision Statement

      Chapter 11 Create a Superior Brand

      Chapter 12 How to Get Your Business Funded

      Chapter 13 Funding Resources

      Sample LLC Operating Agreement

      Sample Articles of Incorporation

      Sample Corporate Bylaws

      IRS Form 2553

      IRS Form SS4

      Sample Partnership Agreement

      Sample Joint Venture Agreement

      Sample Business Plan

      Author Bio

      Other Books By This Author

      More Information

      Chapter 1: What is a Business Plan?

      A business plan is a written portrayal of your business's future. It’s a document that describes what you plan to do and how you plan to do it. Business plans are intrinsically strategic. The plan is a detailed description of what you plan to do with your business and how you plan to do it.

      Business plans can help execute many tasks for those who write and read them. They're used by entrepreneurs seeking investment to communicate their vision to prospective investors. A business plan can also be used by firms that are prospecting for new business, to seek new suppliers or to understand how to manage their companies better.

      What's included in a business plan? A business plan express your business objectives, the tactic you'll use to meet them, impending problems in your business and how to solve them. The organizational formation of your business (including titles and responsibilities), and the amount of capital required to finance your venture and keep it going until it breaks even. A good business plan follows commonly accepted strategies for both form and content. There are three primary parts to a business plan:

      The first is the business brand in which you discuss the industry, your business structure, your particular product or service, and how you plan to make your business a success.

      The second is the marketplace section, in which you describe and consider potential customers: who and where they are, and what makes them buy. You also describe the competition and how you'll position yourself to outshine them.

      Finally, the financial section contains your income and cash flow statement, balance sheet, and financial ratios.

      Breaking these three major sections down even further, a business plan consists of seven key components:

      * Executive summary

      * Business description

      * Market strategies

      * Competitive analysis

      * Design and development plan

      * Operations and management plan

      * Financial factors

      In addition to these sections, a business plan should also have a cover, title page and table of contents.

      Updating your Plan.

      Your plan should be updated periodically. If even one adjustment applies to you, it's time for an update. A new financial period is about to begin. You may update your plan annually, quarterly or even monthly if your industry is a fast-changing one. The following circumstances are the most common reasons for updating:

      * You need financing, or additional financing. Lenders and other financiers need an updated plan to help them make financing decisions. There's been a significant market change. Shifting client tastes, consolidation trends among customers and altered regulatory climates can trigger a need for plan updates.

      * Your firm develops or is about to develop a new product, technology, service or skill. If your business has changed a lot since you wrote your plan the first time around, it's time for an update.

      * You have had a change in management. New managers should get fresh information about your business and your goals.

      * Your company has crossed a threshold, such as moving out of your home office, crossing the $1 million sales mark or employing your 100th employee.

      * Your old plan doesn't seem to reflect reality any more. Maybe you did a poor job last time; maybe things have just changed faster than you expected. But if your plan seems irrelevant, redo it.

      Types of Plans

      There are generally four types of business plans. Mini-plans are short plans and is essentially a summary plan. Working plans are used to operate a business. Presentation plans are used for submitting to investors and bankers. Electronic plans are those which are submitted online.

      The Mini-plan.

      A mini-plan may contain of one to ten pages and should include at least brief attention to such critical matters as business concept, financing needs, marketing plan and financial statements, especially cash flow, income projection and balance sheet. They are generally used to test a business idea and determine the interest of a potential partner or minor investor.

      Do not presume to use a mini-plan to send to an investor. Investors, even bankers or the SBA are looking for complete plans, not mini-plans.

      The Working Plan.

      This plan is used as an internal roadmap for your business and need not be dressed up as with a presentation plan. You can also be more informal in this plan. Do not accidentally send this plan to potential investors.

      This plan also does not need to include resumes of key employees and owners and can also omit photos of products.

      Your financials should be as accurate in this plan as in a presentation plan. Concern for typos is only needed if someone in your organization wants to review the plan. You certainly don’t want to look like someone with no education.

      The Presentation Plan.

      This plan is suitable for showing to bankers, investors and others outside the company. All the information in a presentation plan is must be the same as your working plan. Be sure to use standard business vocabulary, rather than informal jargon, slang and shorthand that's so useful in the workplace. Remember, these readers won't be accustomed with your operation.

      This plan must be comprehensive in providing information on competition, threats, and risks. Using information from some of the better data services will be helpful. Ibisworld is a great source for information on industry facts. You can also use resources from trade associations, but be sure it is as current as possible.

      A presentation plan should be printed by a high-quality printer, using color if possible. It must be bound expertly into a booklet that is durable and easy to read. It should include graphics such as charts, graphs, tables and illustrations. The presentation plan must be accurate and internally consistent. A mistake here could be interpreted as a distortion of facts by an investor or banker.

      The Electronic Plan.

      The majority of business plans are drafted on a computer, then printed out and presented in hard copy. There are situation in which an electronic plan can be used for presentations to a group or for satisfying the demands of a discriminating investor who wants to be able to delve deeply into the details of complex spreadsheets. In the electronic plan not only will you send a .docx or .pdf file, but also you should include Excel spreadsheets which have been used to create your financials.

      Chapter 2: Common Business Plan Errors

      Every business should have a plan and it should be updated periodically. However, there are certain common mistakes found in many

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